Yes Bank Share: Another big news has come regarding the shareholders of Yes Bank.:

News Topical, Digital Desk : Private sector bank Yes Bank has undergone a major change. Exchange data shows that Japan-based Sumitomo Mitsui Banking Corporation (SMBC) has acquired a 20% stake in the bank by purchasing shares from SBI and other lenders, becoming its largest shareholder. SBI's stake will remain above 10%. With this transaction, SMBC's nominated directors Shinichiro Nishino and Rajiv Veeravalli Kannan have joined the bank's board.

SMBC acquired a 20% stake by purchasing shares in the secondary market from State Bank of India (SBI) and other lenders , the same lenders who invested to save Yes Bank during its reconstruction plan in March 2020. The deal brings SMBC's stake to 20%, while SBI will remain a major shareholder, maintaining a holding above 10%.

New Board Entry: With SMBC's stake increase, two of its nominated directors have joined the Yes Bank board. Shinichiro Nishino and Rajiv Veeravalli Kannan have been appointed as non-executive and non-independent directors effective September 18.

Why is this significant? SMBC is one of Japan's leading banking companies and has a strong presence globally, including in Asia. This deal is significant for Yes Bank in several ways. It will strengthen its capital. The arrival of a major investor will further strengthen the bank's capital base. The addition of directors with international experience to the board will provide a new dimension to the bank's strategic direction. SMBC's presence could open up new opportunities for Yes Bank for foreign investment and business partnerships. In March 2020, Yes Bank was plunged into a severe financial crisis. A reconstruction scheme was implemented with the support of the RBI and the government, and several domestic banks, including SBI, have contributed funds. Now, SMBC's entry is seen as a major step towards bringing the bank back on track.